“Today is a historic moment for us. The close of this transaction opens the door to create substantial growth opportunities and deliver greater benefits for customers worldwide,” said Young Sohn, President and Chief Strategy Officer of Samsung Electronics, and Chairman of the Board, HARMAN. “We see transformative opportunities in the car – and a future which seamlessly connects lifestyle across automotive, home, mobile and work. Samsung’s and HARMAN’s leadership in these spaces perfectly positions Samsung to be the preferred partner to our OEM customers. In addition, bringing together HARMAN’s iconic audio brands and capabilities paired with Samsung’s leading display technologies will deliver enhanced audio and video experiences to consumers and professional end markets. And most importantly, we are enthusiastic about our common vision, the similarities in our culture of innovation, and the added value we can create for customers. We look forward to working with all of HARMAN’s employees to execute on our vision.”

“We are excited to have completed the transaction, which provides compelling cash value to our stockholders, benefits our customers and provides new opportunities for our employees,” said Dinesh Paliwal, HARMAN President and CEO.  “Samsung shares our commitment to our customers and our culture of speed, innovation and execution.  Samsung provides HARMAN with the scale, platform and complementary technologies to accelerate growth and extend our global market leadership in automotive, smart audio and connected technologies. Recognizing the importance of partnerships in an increasingly connected world, particularly in automotive, we are poised to leverage our combined teams and resources to produce even greater value for our customers. Working closely with automakers and other technology companies, Samsung and HARMAN will define – and drive – the future of automotive.”

In connection with the completion of the transaction, HARMAN’s common stock will cease trading prior to market open on March 13, 2017 and will be delisted from the New York Stock Exchange. HARMAN will operate as a standalone Samsung subsidiary, overseen by a Board of Directors led by Mr. Sohn. Mr. Paliwal will remain CEO of HARMAN, leading the Company with his management team, and will continue to serve as a member of its Board. Samsung is retaining HARMAN’s work force, headquarters and facilities, as well as all of its consumer and professional audio brands.

About HARMAN

HARMAN (harman.com) designs and engineers connected products and solutions for automakers, consumers, and enterprises worldwide, including connected car systems, audio and visual products, enterprise automation solutions; and connected services.  With leading brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon®, Mark Levinson® and Revel®, HARMAN is admired by audiophiles, musicians and the entertainment venues where they perform around the world. More than 25 million automobiles on the road today are equipped with HARMAN audio and connected car systems. The Company’s software services power billions of mobile devices and systems that are connected, integrated and secure across all platforms, from work and home to car and mobile. HARMAN has a workforce of approximately 30,000 people across the Americas, Europe, and Asia.

We are visual creatures. We experience our surroundings through our eyes and make decisions based on what we see. This especially rings true in the business world, which is why Samsung Electronics has meticulously crafted a wide range of integration-ready signage solutions to support organizations of every size. Although Samsung continues to expand its services in this area, it has already left an indelible mark on five industries. Read on to see how.

Retail

Competition from non-traditional retail sources, such as online and mobile shopping outlets, and the new social media influenced shopping habits of millennials and the middleclass, have forced retailers to differentiate themselves by creating a more enhanced in-store experience. In an era of digital hyper-saturation, retailers must meet customer needs by simplifying the store experience, diversifying marketing and facilitating two- way communication.

Such was the case with Sport Chek, Canada’s largest retailer of sports equipment and apparel. Noting that 80% of the retailer`s customers were under the age of 40, the company attempted to appeal to this digital-savvy demographic by installing numerous interactive screens throughout their flagship store in Toronto.

The vibrant images and content arrangement features of Samsung’s displays made customers want to spend more time in the store, and cemented a positive perception of the brand. As such, Sport Chek was able to create a retail environment unlike any other in North America, resulting in unprecedented sales.

Corporate

Corporations gain market share by readily adapting to ever-changing business conditions, particularly in the realm of IT infrastructure. Utilizing up-to-date communication and operation systems ensures effective internal collaboration and timely delivery of relevant information, as well as improves overall corporate performance.

To meet these evolving needs, corporate managers must provide a flexible communication system that supports dynamic collaboration, give employees easy access to real-time information and retain clients by presenting a visually impactful and compelling brand message.

Seeking to influence in-house creativity and enhance operations to take their company mission to the next level, Geico S.p.A., the automotive industry’s leading international producer of automated paint plants, worked together with Numero 10, a Samsung partner, to build and manage high-definition Samsung video walls. To increase collaboration between employees and clients, they also installed Samsung’s 65” interactive multimedia e-Boards in their executive offices, main meeting halls and training facilities.

Not only did Geico grab the attention of current customers and potential clients, but also cultivated internal communications and promoted a fruitful exchange of inventive ideas with the videoconferencing capabilities of the e-Boards.

Entertainment

With internet connectivity allowing for more convenient media consumption, more consumers are transitioning away from large public venues, moving instead to personalized in-home entertainment systems. In response, the entertainment industry has to reinvent its methods to get consumers out of their living rooms and into entertainment venues.

In order to meet consumer demands, entertainment facilities must capture customers’ attention with vibrant imagery, create convenient and intuitive promotional information, and establish a platform which enables customers to interact with the venue in a more personal way.

Slate NY, a popular New York City sports bar and events venue, attempted to accomplish this by installing a cutting edge video wall to create an impactful audio-visual experience for guests. Samsung’s 55” UD Series Direct-lit LED displays provided Slate NY with an elegant solution, offering a virtually seamless viewing experience when installed as a video wall.

Following the installation, the venue saw a 25% increase in foot traffic for popular sporting events, as well as a spike in event bookings. Slate NY intends to further leverage the video wall through the integration of custom graphics that will transform the venue’s atmosphere to fit club nights and other special events.

Hospitality

“Digital natives,” tech-savvy consumers who value mobility, flexibility and on-demand media access, are a growing demographic targeted by the hospitality industry. So much so that they are expected to be the main user of hospitality displays by 2017. As such, hotels and resorts worldwide have had to evolve to enhance guests’ experiences with more digital amenities while maintaining a modern interior design.

Hong Kong’s Peninsula Hotel serves affluent business and leisure guests and builds loyalty through impeccable service, elegant décor, and modern in-room technology. The hotel sought to efficiently transform its guest rooms with nearly 700 elegant Samsung hospitality displays which delivered full-HD video content with user-friendly, intuitive controls. Additionally, the displays comprised seamless integration with guests’ mobile devices, allowing them to feel more at home.

These interactive, information dense displays upgraded the luxury hotel to the foremost level of in-room entertainment and have been so successful that Samsung has been chosen as the technology standard across Hong Kong & Shanghai Hotels Limited’s hotels worldwide.

Transportation

As individuals are driving less and the general public’s attitudes toward public modes of transportation are becoming more positive, the transportation industry is seeing an increase in the number of travelers across all segments. To continue along this steadily positive growth trend, transportation centers such as airports and train terminals will need to invest in innovative digital infrastructure to maximize capacity while minimizing operating costs.

To modernize how travelers access information, the industry has turned to digital signage solutions, which can be tailored to fit the individual needs of a wide range of transportation segments.

Samsung’s SMART Signage utilizes database integration to display real time departure/arrival information to cater to passenger needs and enhances the travel experience with interactive, passenger-oriented content and self-service capabilities. Additionally, Samsung’s displays promote brand awareness with a contemporary, visually compelling passenger terminal, sure to appeal to the growing demographics utilizing public transportation.

As industry trends evolve to meet the demands of the public, so will the way we consume them. It is certain that Samsung`s display solutions will advance with such trends, continuing to improve and enhance the way the world does business.